Colgate-Palmolive (NYSE:CL) Shares Sold by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC lowered its holdings in shares of Colgate-Palmolive (NYSE:CL) by 6.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,914 shares of the company’s stock after selling 250 shares during the period. Woodmont Investment Counsel LLC’s holdings in Colgate-Palmolive were worth $352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CL. Waverly Advisors LLC raised its position in Colgate-Palmolive by 9.3% during the third quarter. Waverly Advisors LLC now owns 3,761 shares of the company’s stock worth $267,000 after acquiring an additional 319 shares during the last quarter. Truist Financial Corp raised its position in Colgate-Palmolive by 13.2% during the third quarter. Truist Financial Corp now owns 322,496 shares of the company’s stock worth $22,933,000 after acquiring an additional 37,564 shares during the last quarter. Advisors Asset Management Inc. raised its position in Colgate-Palmolive by 29.1% during the third quarter. Advisors Asset Management Inc. now owns 7,027 shares of the company’s stock worth $500,000 after acquiring an additional 1,586 shares during the last quarter. Axxcess Wealth Management LLC raised its position in Colgate-Palmolive by 77.3% during the third quarter. Axxcess Wealth Management LLC now owns 50,795 shares of the company’s stock worth $3,612,000 after acquiring an additional 22,149 shares during the last quarter. Finally, AXQ Capital LP purchased a new stake in shares of Colgate-Palmolive during the third quarter worth about $420,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CL. Citigroup lifted their price target on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Evercore ISI lifted their price target on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. BNP Paribas began coverage on shares of Colgate-Palmolive in a report on Monday, June 24th. They set an “outperform” rating and a $109.00 price target for the company. Bank of America lifted their price target on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Finally, Barclays lifted their price target on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.83.

Colgate-Palmolive Price Performance

CL opened at $96.12 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $99.08. The company has a 50 day moving average of $94.02 and a two-hundred day moving average of $87.76. The company has a market cap of $78.86 billion, a P/E ratio of 30.42, a P/E/G ratio of 3.57 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the previous year, the firm earned $0.73 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts expect that Colgate-Palmolive will post 3.53 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.08%. Colgate-Palmolive’s payout ratio is currently 63.29%.

Insider Transactions at Colgate-Palmolive

In other news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the transaction, the insider now directly owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Sally Massey sold 12,226 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the sale, the insider now directly owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John W. Kooyman sold 3,497 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the sale, the insider now directly owns 3,181 shares in the company, valued at $297,328.07. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.